Alpha Metallurgical Resources, Inc. (AMR) reported on Monday a third-quarter net income of $252.82 million or $14.27 per share, sharply higher than $83.26 million or $4.40 per share in the prior-year quarter.<\/p>\n
Net income from continuing operations soared to $251.84 million or $14.21 per share from $83.26 million or $4.43 per share in the year-ago quarter.<\/p>\n
On average, three analysts polled by Thomson Reuters expected the company to report earnings of $16.81 per share for the quarter. Analysts’ estimates typically exclude special items.<\/p>\n
Total revenues for the quarter surged to $869.77 million from $648.84 million in the same quarter last year. Analysts expected revenue of $931.23 million for the quarter.<\/p>\n
Looking ahead to fiscal 2022, the company continues to expect total shipments be in the range of 15.6 million to 17.2 million tons.<\/p>\n
On November 4, 2022, Alpha’s board of directors declared a quarterly cash dividend payment of $0.418 per share, increased from the prior level of $0.392 per share, which will become payable on January 3, 2023 for holders of record as of December 15, 2022.<\/p>\n
Alpha’s board also declared a one-time, special dividend of $5.00 per share, also payable on January 3, 2023 for holders of record as of December 15, 2022.<\/p>\n
Further on November 4, Alpha’s board increased its previous $600 billion share buyback authorization by $400 million, bringing the total authorization to $1 billion.<\/p>\n
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